Geeknet GKNT shares have tumbled considerably since management has still not fully disclosed / gone public with its Geek.com divestiture to Ziff-Davis reported here January 02, 2011. On January 03, 2011 the GKNT Board of Directors were awarded $499,775.44(1) in Bonuses not based on performance / GKNT earnings. And contemporaneous with its insider options issuances on January 7th Geeknet also did not disclose its alliance with Atari and IONaudio with its iCade iPad Gaming Arcade for release April 2011.

Massive bonuses not based on performance + non-disclosure of Geek.com divestiture + non-disclosure of iCade strongly suggests Q4 was a disaster (TK-421?) and Geeknet is holding news to obfuscate their q4 numbers..imoo. SourceForge nka Geeknet has been street and non-insider shareholder hostile since Scott Kauffman became CEO. This did not make sense and drew fire starting with the Trivium Capital Hedge Fund and Whitman Capital (7). But it continues under Kenneth Langone arguably suggesting Langone and his partners have been enforcing/dictating this Street and non-insider hostile strategy all along.

(2) Based on the closing price of Geeknet (GKNT) on December 14, 2010 ($25.89). Form 4 Scott Collison filed December 16, 2010 (78,125 shares). Form 4 Caroline Offutt filed December 16, 2010 (78,125 shares). These awards were made while Geeknet is sustaining continuing losses and cash drains while Thinkgeek's gross margins have further eroded from 15.74% for the nine-months ended September 30, 2009 to 12.03% for the nine-months ended September 30, 2010. Source: Geeknet SEC 10-Q for the period ended September 30, 2010.

(4) "...We have long held SourceForge in high regard," said Scott Collison, CEO of Ohloh. "We are eager to combine our skills and insights with SourceForge's credibility and reach in the open source ecosystem and look forward to joining the SourceForge team...". Never happened, ohloh was dumped as an asset sale under Scott Collison's leadership as an officer of Geeknet after and after cashing out with the SourceForge May 2009 acquisition. (See SourceForge wants to be collaboration powerhouse, buys Ohloh)

(5) Note: Geeknet disclosed feedery pursuant to a formal press release (full disclosure) on November 16th 2010 but not its divestiture of Geek.com nor its iCade alliance with IONaudio and Atari. Selective disclosure?

(7) "...The valuation of Geeknet (LNUX) is very low, and you've got a major eCommerce business that's doing obviously very well, an eCommerce business is probably worth more than the whole market capitalization not even counting the rest of the Company and go back to Wall Street and reestablish a presence on Wall Street?..." - Source: (February 11, 2010) Douglas Whitman, Whitman Capital, [13:56] into the Questions and Answers portion of the February 11th Conference Call. Note: This was February 2010, five months before Kenneth Langone appeared.

iii. (August 27, 2010) Breaking...Exclusive...News...GKNT Shareholders Allege Blatant Violations of Insider Trading Sanctions Act of 1984 by CFO, Former CMO, Former CTO...Story Developing...Note: All Officers cited in this article are no longer with GKNT.

"...Geeknet will report its financial results for the fourth quarter and full year ended December 31, 2010 on Tuesday, February 15, 2011. A conference call will be held that day at 11:00am PT / 2:00pm ET..."

Live Dial In Information: Live Dial In (Toll Free): (877) 348-9353 Live Dial In (International): (253) 237-1159

A live audio webcast link will be available in the Investor Relations section of the company's corporate website at geek.net/investors. A dial in replay will be available until midnight on March 1, 2011.

...all of which will provide fuel for their apparent singular focus on ThinkGeek's future (and arguably allowing them not to focus too much / distancing them from tk-421 numbers??).

..the entire media division being the wildcard. No one seems to know how to monetize Geeknet's 57.9M** unique monthly visitors substantially accounted for by the media division. The question is how will Geeknet fund ThinkGeek's sustainable growth? Staged secondaries over the next 18 months beginning with a $20-$40M secondary around late q1 ending March 31, 2011 fueled by GKNT's February 15 conference call?

Updates: HP and Starbucks are now advertising on slashdot.org and sourceforge.net...Sourcefoge.net may have hit a new download record on 1/26/2011 --> 01/26/2011 6:25 pm est So far today: 4,232,077 downloads 6,777 code commits 3,614 forum posts 983 bugs tracked

>>No one seems to know how to monetize Geeknet's 57.9M** unique monthly visitors substantially accounted for by the media division.

Interesting very recent development?....I no longer see ThinkGeek being advertised on slashdot nor sourceforge. The two obvious places which are capable of maximizing ThinkGeek's revenues/earnings/growth given the commensurate growth/unique visitors of sourceforge.net and slashdot.org...

2. (Footnote 7 above) "...The valuation of Geeknet (LNUX) is very low, and you've got a major eCommerce business that's doing obviously very well, an eCommerce business is probably worth more than the whole market capitalization not even counting the rest of the Company and go back to Wall Street and reestablish a presence on Wall Street?..." - Source: (February 11, 2010) Douglas Whitman, Whitman Capital, [13:56] into the Questions and Answers portion of the February 11th 2010 Conference Call.